CBI responds to Transforming Business Rates Interim Report

Louise Hellem, CBI Chief Economist, said:

“The CBI welcomes this interim report as a significant step forward in the long-awaited reform of the business rates system.

“The government is right to prioritise tackling cliff-edges, which have long acted as a brake on investment and growth across the economy. We particularly welcome both the commitment to explore a slice-based system and options for improving investment incentives - such as enhancing improvement relief - as put forward by CBI members.

“It’s also encouraging to see the emphasis on improving rates administration, building on the merger of the Valuation Office Agency with HMRC, which could make the system more accessible and efficient for business.”